Stock markets in London had a better day and only a handful of firms saw their share prices lower by close of business, after Bank of England chief Mervyn King announced he is prepared to act early to keep inflation in check.
This has sparked suggestions of a potential base interest rate rise again next month, as King – governor of the Bank of England – told the Treasury Select Committee he hasn’t seen any reaction from consumers to the two previous rate hikes since November. This has encouraged firms to make the most of the stock market rally while they can, giving Cable & Wireless the best gains of the day. C&W, the telephone operator, climbed 8.5p or 6.95% to 130.75p while MMO2, the mobile operator, added 5p or 5.17% to 101.75p. Schroders also rose 31p or 5.32% to 614p while Antofagasta – the copper ...
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